When Does It Make Sense To Buy A BRAND NEW CAR | Minority Mindset

[@MinorityMindset]

Thank you for watching! If you enjoyed this video, you should watch - Your Car Is Keeping You Broke: kzbin.info/www/bejne/mHLJfHetj7aEia8

[@EverinMalpica]

Can you please share the link to that calculator?

[@eddhiggins9034]

You are completely correct. However, I had to buy a Ford Flex because it was cheaper than anything else decent and it had space for my kids. I am no mechanic, which helps with a newer car. My first car I bought was from a dealer was outside of a military base I was stationed at. I had just gotten married and my credit was shot with no savings. I took the 18% interest and made HIGH payments until i could get my credit up further. It all worked out. Point being, there are times where you have to make a better bad decision to get ahead. PLEASE let me know if I am wrong.

[@gursimarsingh5505]

Remember. Don't forget your sikhi

[@ThePabloG30]

Buy a Toyota or a Honda if you actually need to buy a car 'new or used'... just don't look at another car for a few years and focus on saving and investing

[@Kimbrough87]

You're wrong on the car not being an asset because I do Uber and every time my wheels turn I hear 🤑🤑 in my bank account 🤣

[@tareshtheentrepreneur1327]

Benjamin Franklin: "A penny saved is a penny earned" Jaspreet Singh: "No. A penny saved is just a penny. Now, if you want to INVEST that penny....."

[@AndrewClawson19]

Perfect comment

[@dadonthetube]

🤣🤣🤣

[@mamatosh05]

😄. True

[@paystyles5429]

BELOW!!

[@stevenbowdich6716]

Imagine if you invested a penny from back then to today and got the average return of 7%, youd have over 7 million dollars. Then again, thats 300+ years of interest.

[@brandonm6117]

Something interesting happened to me recently, I started working at a car dealership selling cars. I thought being around all these new cars it would make me want to buy one, but after driving a few that cost $30-50k, I have a better appreciation of my $2000 4runner cause it does everything I need to do (and more) and it doesn't have a monthly payment

[@tommyv4980]

I love how he doesn't have an ulterior motive and genuinely gives a shit about people. We need more people like you, sir

[@doug_velasquez007]

His motive is to grow his business and make money. He's just doing it ethically by providing a valuable service and helping others imo

[@curtbalch2321]

It's much easier to have everything you want, when you don't want everything

[@rebelrrp]

That is a dangerous platform also. Not wanting anything is almost as bad as wanting everything. You only get one life and the time you spend at work is burning your life away. It is necessary to work but if you are going to spend a lot of time at work it needs to be for a goal in the future. The reason for having savings goals and a budget is that it not only tells you where you will be in the future but it also tells you what you can afford today.

[@curtbalch2321]

@@rebelrrp there's a significant difference between not wanting everything and wanting nothing. Not wanting everything demands that we prioritize what's most important to us and act accordingly to attain it.

[@bvc318]

What is my child is sitting in it ?

[@Saxology219]

This is a whole FACT!💯

[@ivar4355]

@@rebelrrp is a 60 year old cadillac a good reason to save money?

[@openyoureyes3969]

My car is 20 years old. Before the pandemic I had more than enough to afford a new monthly car payment. Now that I am unemployed that used car looks better and better!

[@arturotorres6437]

My car is 14 years old and I've been wanting to upgrade to a 2020 truck but have been cautious due to this pandemic causing a recession. I cannot imagine people with car loans and house mortgagees being unemployed during these times.

[@HiroNguy]

Winning move!

[@traceycolvin0504]

@@arturotorres6437 It's very hard to do. Especially if you do not have an emergency fund.

[@philg7528]

I drive a 2002 Honda Civic manual coupe. Due to COVID I was laid off and out of work for 3 months at the later part of the year after the federal UI bonus ran out. Congress past the second stimulus with $300 UI bonus during my last month of unemployment. The first 2 months, I only received the state's UI payments which is less than the state's minimum wage full time. If I didn't pay off my student loans and credit cards 3 years ago, and had a car payment, this would've been a very different story. Debt is not a tool, it is a curse.

[@openyoureyes3969]

@@philg7528 Exactly!

[@iambillystanley]

It's so hard being a car enthusiast when you're trying to be financially responsible at the same time lol

[@h7opolo]

i have reported this spammer/impersonator.

[@MinorityMindset]

True lol

[@Capt_AwesomePants]

For real. I just bought my first true resto-mod. I am paying cash for all the things with a timeline of 4.5 years.

[@aaz1992]

2003 SL 500 tho

[@jdmrules007]

Forreal my wrx is a money pit

[@LarryBergelt]

I've never bought a new car over $25k. Most including my last car have been in the teens. I know it is still losing value, but I use my car in my work. So it is adding comfortable value for me. Buying a used car is buying someone else problems.

[@PeteCorp]

Your new car becomes your used car. Either way you're still driving a used car, problems just the same, but $10,000 less in your bank account.

[@kwaviddong7875]

@Nick White I have never found a 2 year old car with a 10K depreciation.

[@CryptoDad83]

Caller: I really want to become wealthier and payoff my debt and... Dave Ramsey: Sell the car. IMMEDIATELY.

[@blade643]

@@bilgisahibisin7236 this comment is straight up gold!! 🤣🤣🤣 Jaspreet for potus 2024

[@richd5476]

For most people that call Dave,that is gold advice. The amusement I get from listening to the financially clueless people that call him is off the charts.

[@Forever.Remain.Nameless]

@@richd5476 i was one of those financially clueless people at one time.....

[@maximustrolleus9860]

@@Forever.Remain.Nameless everybody starts somewhere, learning is a lifelong process

[@mohammedosman88]

I honestly think all calls at the dave ramsey show are staged

[@catdrjay1079]

My husband is a Dr. and drives a 2008 mustang. Every time he rolls up to work everyone makes fun of him . He refuses to buy a new car until we acquire assets.

[@mr.darknight416]

Those people who laugh are probably going to live off of their pensions when they are old.

[@jlepage36]

The poor guys buy cars they can't afford to show the world they are worth something. The rich guys (or on their way to being rich) don't care so much about appearing successful, they care about actually being successful.

[@angry870]

true.....but its amazing how many people I know that keep buying beaters and are broke from the constant breakdowns/ headaches and then they go out and get another beater and the cycle repeats.......we have been brainwashed into thinking every vehicle with be worth more later which is obviously an error.

[@831-s9f]

I’ll rather have a paid off Honda than a Financed Mercedes respectively...

[@mr.clapyourcheeks8496]

Facts

[@JonathanJorge.]

Facts

[@marioeid930]

Buy a used Mercedes for the price of a honda, my Mercedes was cheaper than a camry

[@sironeil-personalfinancere9367]

I reccomend focusing on buying assets and not liabilities! For example, when I got some money instead of buying a car I decided to purchase my first home/rental property in Brooklyn New York. I even created my KZbin channel to show the steps i took to get the property. Thanks for this video Juspreet

[@JoseFlores-xh5cj]

Car can be an asset. I bought a 2013 Prius for its 40 MPG for $4,500 3 months ago. So far that car has cost me $1,300 in deductible liabilities and produced $13,600 income. Car is used to travel to work from airport-to-airport and Doord Dash.

[@ChonnyD]

Bought a mazda3 brand new. 2.5 years later it’s completely paid off after using it for food delivery as a side hustle. It paid for itself & my student loans. I would consider that a win in my book!

[@ayooKondom]

That’s definitely a win, in this case your car was an asset as it put more money in your pocket then what you were losing

[@ChonnyD]

@Nick White True. It was my mistake buying it new, I was describing it’s redemption. Also sometimes you get a better deal buying new on a car that depreciates slowly. I’ve sometimes heard that low years / mileage cars not that be that much of a better deal than a new one with incentives, etc.

[@johnstack5008]

According to him, you could have bought a 5 year old Mazda 3 and paid half as much. To add there is the reduced insurance, sales tax, registration and compound interest on the auto loan. You could have invested the savings in index funds earning 10% a year.

[@AzraelIgnis]

I bought a 2006 Acura TL with 149k miles for 4k cash. Fully loaded and plenty fast for a daily driver. Best purchase ever. Though I do want the 2022 BRZ.

[@Latiosx123]

my dad's strategy, buy a brand new japanese compact sedan for less than 17k cash. drive until it falls apart. i grew up with the same car for 17 years, it still runs the day my dad sold it. basic oil change and maintenance goes a loooooong way

[@yashthakar9441]

3 year old car is perfect sweet spot for me if i can get it at 60% price

[@minicc26]

I need to buy a car not sure what kind yet but I think im going for a 2017 or 2018 car

[@Ranveer_sangha03]

Balle shera... it was a good content And very good morning veer nu California toh

[@nothing563019]

Partially true. Something thats never mentioned in this argument though --> a newer car will last you longer. Yes an old 6k car is cheaper up front but you will have to replace it years sooner than a new car and it will nickel and dime and leave you stranded more often along the way. A 50k new car doesn't make sense (unless youre ballin) but a 20k new toyota or hyundai can especially if you have to drive alot and dont have the time to fix your car yourself or be stranded

[@CarysCorner]

Another thing to remember is that the registration is much higher on a new car in some states. Here in Colorado new car registration is over $1,000. By the time the car is 4 years old, registration has fallen to one fifth of the new registration.

[@CHEFPKR]

As much as I miss my car, he's is 100% correct. After selling my car and going down to a 1 car family, I now spend the $500 a month on my channel and invest in my business. I still want my WRX again some day though...

[@MinorityMindset]

Oh babyyy!! Pay yourself first 💪💪

[@ordinaryhuman5645]

Try an ebike. I've had way more fun on (non-electric) bikes than in cars, so I'd guess that an electric bike would be even more satisfying for people who are into that.

[@bestthingsinceslicedrice]

I know right! I had a wrx 2012 before where I hated the stock suspension, the rattling and plain interrior along with the poor paint that scratches easily. Bt man its a fun car to drive tho. But its easy to buy a car anyway as long as you can truly afford it

[@seasaltisland]

One day don't hold your enjoyment back. Maybe that 500 isn't worth being depressed about it, but just decide what's best at that moment

[@timscarberry2778]

When does it make sense to buy a brand new car? Jaspeert Singh: when you have money to BELOW!

[@chrisguapo69]

Another piece of advice I may add if you're buying a new car, learn about how to spot sneaky dealership expenses such as paying extra for "dent protection", GAP, paint protection, leather protection, extended service warranties, market adjustments, and such. Knowing these shady deals will save you from $1500-$4500 on added surcharge for your brand new vehicle. There's a lot of youtube videos covering this subject.

[@MilquetoastMan]

Gotta say there's a lot of information missing in this video. First off, when getting a car financed it's difficult to get 0% APR on a USED car. You didn't go into how your payments will look depending on your down payment and interest rate. With the used car for $6k you make it sound like that's all you pay so you're saving $600/mo BUT with a used car you have to pay for all repairs out of pocket. New cars have warranties that cover repairs as well as oil change, tire rotation, etc. Also with the used car you're down $6k right away BUT you can drive a new car for free for some time IF you put $0 down which is possible to do and still get 0% APR.

[@puravida5683]

I am of means, and currently living in Latin America. I bought a new 2006 Toyota 4Runner V8 Sport Edition 4 X 4, while I lived in the U.S. I only drove it on weekends. In 2014 I shipped it to my home in Latin America.......with only 32,000 original miles. It stills runs great, looks good and has only had $800 in repairs, tires, brake pads and a new battery.

[@nickwojciechowski6965]

When it comes to consistency you have to best to be best.

[@zaniebpeterson7774]

So true !!

[@sarahjacobson2700]

True words though only if you know what you are doing.

[@nickwojciechowski6965]

It’s really fine to celebrate success but it’s more important to heed to the lessons of failure

[@zaniebpeterson7774]

I don’t think so because I’ve lost here a lot by trusted brokers they say....

[@lionaldcrescence5393]

Never underestimate her good work on FX/ST/BO

[@huskiefan06]

What an excellent video about vehicles! High school seniors should be required to watch this before graduating. I purchased a 2 year old Honda Accord Hybrid (with cash) a few years back for 50% of what it sold for new. Such a steal!

[@achievementlocksmith]

My truck is an 08 and looks beautiful. Never have had a car payment. I also have a company vehicle I drive to and from work so I guess that helps LOL . Either way even in high school I never financed a car and grew up quite poor

[@jenniferbriski567]

When you buy used vehicles you can make the sale contingent on having a mechanic go over it before you sign. Easily buy it for less then 1/5 of the original price is worth it -and it works with luxury vehicles also.

[@Kaur_Harvinder]

I was about to buy a new car last week (with cash though) even though my current car works great. I wanted to do it cuz me and my husband do a lot of road trips. I thought we “deserve” an upgrade. Anyway, I asked myself a question “ What would jaspreet veer (bro) say about this?” I changed my mind about buying a new car after I reflected on it and realised I don’t need an upgrade. And today this video pops up haha. I’m so glad I dropped the plan. Minority mindset is the best 😌 🙏

[@radfoo72]

"If you're weird and eat a certain salad that they don't even have on the menu" 😂😂😂

[@tomTom-lb5cu]

Love your videos....literally seconds first monologue...not 3-5 minutes repetition introduction every time...like most.....then teaching from start to end...thank you jaspreet....y our a master teacher...never gets boring....funny and educational...

[@akilla214u2c]

Depending on the used car, you may be inheriting more problems and more repair cost. Set a range of age on the used car. Like 2-3yrs old.

[@reasonablespeculation3893]

Depends on the reliability of the Brand/Model ( e. g. Fiat vs Toyota) and most important, pay the Insurance, get a competent mechanic to check it out.

[@ElainesDomain]

@Suzukiswiftlova I've been driving Mercedes for decades. I buy them used after a full inspection or still under warranty. I keep them until the body falls off.

[@ElainesDomain]

@Suzukiswiftlova 1st one was 1981. Current is 2011 E350 Diesel. We drove diesels because wife drove 94 miles round trip to work and I drove 112 miles round trip. Had a few others too.

[@stevend8785]

I bought a 2012 Accord new for $25,000, nothing down, 0.9% financing, $405 a month for 60 mo. It has 153,000 miles now, no problems, only basic maintenance. It's now worth $6,000. So I spent $2,400 a year to drive 19,000 miles a year safely and reliably. Add 3 sets of tires, a few batteries, oil, trans fluid changes, antifreeze, and brake calipers and rotors. I actually feel like I've gotten value for this purchase. My wife drives it 40 miles a day to work plus kid's sports.

[@amandeepsingh2142]

How the hell did you know I'm looking to buy a car? Damn!! Jaspreet, get outa my head. Lol. Awesome content.

[@sweetpigfarm3645]

I repair all of our stuff. Best by I ever had was rebuilt salvaged car, it was all fixed and safe. 2yrs old, 33k miles it was about a 1/3 of the cost from new.

[@_JMiahW]

“...but you’re too busy driving around in a car with a heated steering wheel.” I appreciate your humor, Jaspreet.

[@chrissyginger60]

I had a used car and I couldn’t go anywhere because it would overheat and the tires had to be replaced every month. Transportation is important because you need something reliable to get to work to buy that house. I listen and didn’t have a car payment for a long time. It was good in one way but not good in other ways. I am okay with my car payment and not having the stress of fixing my car ever 5 minutes

[@traceycolvin0504]

I have not had a car for almost ten years and I don't miss it. My dad said, I should have had a car by now. I said to him, I don't need stress, headache's or the liability.

[@erickisel8668]

WATCH THIS OVER AGAIN & AGAIN UNTIL YOU GET IT. Car payments killed me for years. I finally get it now. No more. I ❤️ cars but I ❤️ my 💰💰💰 more.

[@fugazi5150]

The best advice live by your own means.🤙🏼

[@Misbehave11]

My car is 20yrs old, and I will keep driving it till it needs a major fix. Just got a new battery recently. Still as reliable as day one!

[@Cesar-jh1ho]

Only if it's for tax reason like when we bought a f250 for our kitchen cabinet business it was that or cut the man a check for the amount of the truck and now we have two trucks that make money.

[@ecuasteelo]

Fantastic video. When my car ends up dying, I'm sticking to public transit and uber and the mulan I'll be saving will continue to go into the stock market.

[@reversiontothemean6129]

This is the single most reason that we were able to reach another level in financial freedom and success. We vowed to never again buy a brand new car or accept terms of a monthly vehicle payment.

[@gormanthomas8135]

Thank you for another good video! In my state, you can save nearly 10% buying a used car from a private party (ie., not a business) as sales tax does not apply. Another bonus!

[@matth4784]

Honestly I think this was true at one time but these days used cars are so inflated. I've seen listings where a car with 40k miles is a grand cheaper than a new one

[@MikeyBadabingBadaboom]

You hit the nail on the head, Matt. That's exactly the issue.

[@beepak8902]

With zero percent interest on the new car, look at used 5 years out. Sometimes buying new is more reasonable due to used car interest , and when u add in fees like taxes, etc.

[@susanturner1906]

Buy from private seller, not dealers. Baby boomers love to sell their own cars. And don’t be picky about things that don’t matter. Buy a reliable model. Haven’t had a car payment since 1990 yet have always driven nice looking quality cars i.e. Acura, Lexus, etc. These cars never need work, just routine maintenance

[@alexn5159]

New car = higher insurance premiums. In CA my coworkers pay 400-ish on car payments plus 200 plus for full coverage. I paid 4500 for my truck, and pay 12 bucks for liability with towing and uninsured motorists.

[@SimplyDesired]

This man is the most entertaining and informative youtuber ever

[@tkirchmann]

Bought a 2013 Lexus ES350 5 years ago with 80k for 33% of its original price. It's at 200K. Hopefully it will last another 5-10 years. It was paid off in within the first year. Next car will also probably be an ES350 as well. Luxury cars TANK in value in the first 2-3 years.

[@2rAluqdah2]

I had car payment twice in my life one with 24% interest and one with 16% interest they robbed me total of 40% interest in car payments I wish I knew this stuff about 10 years ago I lost about 52,000 in car payments never never never agian

[@Saiyan4658]

Bought a 2016 Hellcat for 48,500 with 18k miles back in Janurary 2019. Because of Covid, the resale value of higher end cars went straight up. Sold my car at the end of December 2020 with 39k miles and got 47.5k! I got to drive that beast for only $1000 plus oil changes and a set of rear tires. :)

[@markmedeiros3137]

My wife and I have been auto loan-free for the last 5 years. It’s a wonderful way to live.

[@chrishart8548]

I only had a car payment for a couple of months i couldn't sleep at night! Never again. Pay cash or walk is my moto

[@tyjameson7404]

Jazz is amazing 👍🏼🙌🏼✅his financial education is helping the poplulace daily ❤️👏 showing people how to be bankable, leverage good credit, and acquire assets that can sustain their long term lifestyle.....I love Minority Mindset 👍🏼🙌🏼🇺🇸✅ the goat of all KZbin financial education forums....🐐

[@Diegothemexican13]

I need a Jaspreet poster in my house. every time I look at cars or any other impulsive purchases, I'll just look to him to keep me in line.

[@NotMuchHere]

I have a slight difference of opinion on this. This relates to trucks used for work. The price of trucks for 5 years old was the same as a new truck. It did not make sense to make the same payment for a 5 year old beat up truck vs a new one. The math worked differently but a truck was "needed" for running a "farm", side hustle.

[@glenf4115]

To find the depreciation of any car: Look a the cost of leasing. A lease is a consumer paying only the depreciation of the car.

[@GhettoWagon]

Just drive an old crappy 30 year old car. Just parts are hard to find. When it breaks it costs $20 instead of $200-2000 for the part like new cars. Even USED car prices are INSANE these days. My Beater has been worth the same or MORE in the last 5 years.. Insurance on the new car is always higher too. More expense

[@nirmal6632]

Never forget when Jaspreet said: "DTF..Down to finance" 😂💀

[@27Zangle]

Had a 2016 Escape, bought it new, paid cash. Hated that vehicle even though it only had one warranty issue the entire time we owned it. Sadly, the vehicle was totaled a couple years back and while waiting on insurance and towing from one town to another, we decided to buy an older (2006) used Kia Sedona (fully loaded) in great shape. Guess what, we still have the Kia because it has been reliable, fits my wife's short frame safely, and is one of the most comfortable vehicles we have ever owned. I don't feel stressed owning this vehicle.

[@funkyandbold]

$50,000 is a home in Buffalo, ny where I live. So your car payment is like a mortgage payment especially after insurance.

[@funkyandbold]

@Minority Mindset This guy. Smh. 😄😄😄😄😄😄😄

[@gwood701]

If houses are that cheap its because nobody wants to live there

[@funkyandbold]

@@davidboeger6766 the point is the average person is living beyond their means. So in san Francisco where the $50,000 home is $150K is it any smarter to buy a car that's $50,000? Or do you down grade your home to buy a new car that's $50,000? Especially considering how broke people are living paycheck to paycheck. This is how people get handcuffed to jobs they hate. Two years from paying off their car, so they take shit from their boss and co-workers, to impress...who? There's no logic in spreading yourself thin for a non asset.

[@funkyandbold]

@@gwood701 WTF does that have to do with you over extending your pay?!? HUH??? If you have your shit together to the point you can swing a $200k mortgage and $50k car, why TF are you HERE, exactly?? I OWN my home, OUTRIGHT! Do you? Go ahead and lie and say you do. You do NOT. This advice is basic and you're learning the ropes. Criticize the rookies, not the vets.

[@funkyandbold]

@@davidboeger6766 no, you can compare cost of living from city to city, especially if the city pays you cost of living like NYC.

[@sofaking1611]

Every used car ive had always breaks down and costs me more in terms of time for repairs and actual replacement parts. Id rather not worry about my car breaking down on the freeway on thr way to work. Maybe its just bad luck for me but im paranoid about used cars and avoid them altogether.

[@vincenttrovato]

Buying a car for 1k and it lasting over two years without major repairs is really thrilling.

[@TheQuickyouknow]

Been listening to Dave Ramsey for years so I'm team used car, but I do want to go electric in a couple years and I have not heard good things about the early model Teslas. Used makes sense with the same old technology, but electric adds another level of complexity.

[@747-pilot]

_"Compound interest is the eight wonder of the world. He who understands it, earns it. He who does not, pays it!"_ ....said none other than the late, great Albert Einstein!

[@digitalkream5936]

Best time to buy a car is is December 25th through 30th if your a business owner. Vehicle could be a write off and help with overall taxation. A new vehicle depreciates on avg 25% to 50% when you drive off lot and can use the total of vehicle to offset company expenses. N-USED(nused lol) are vehicles that a dealer buys from themselves and puts as rental for service department then when it gets over 6k miles they sell that 'new"car at value of buying the new model as of you qualify for ALL rebates + minus 10% or T T & L included on top of that. Also just a reminder that every 1k you finance is 12-17 bucks on good to average credit while if you have bad credit it's 25-40 bucks per 1k you finance. Also a bank will only finance you at 36-40 % of your income for yoir monthly payment unless it's a high risk lender like Ally or Santander for example. A low risk lender would be Fidelity for example. A used vehicle can be 25% to 66% cheaper but also when you finance a used vehicle you have to consider value of vehicle,what your buying it at, how old it is, how many miles it has,your vehicle value(what do you owe ?), and also status of title. Only 2 lenders will finance lemon buy backs and it's at 110% -125% of contract including warranties put into the vehicle. Just my 2 cents from a conscious car person who made close to 100k selling cars before got fired for overperforming/ so car lot could get PPP business loan. Fuck em.

[@sethwalt1327]

Just paid off my car today, now it's time to turn around and start using that extra cash to build...

[@martinogbu4221]

2006 Toyota camry bought at $2500. Added an atoto s8 pro with reverse camera and remote start at $600 value. 😋😋. Best form luxury😜. Car market value is still at $2500.

[@1939Masterdeluxe]

That’s why I still got my 99 Tahoe That my parents bought new and I got that from them in 2004 and I just do a little work here and there on it because I’m mechanically inclined and all I do is pay my insurance which is liability at $40 a month

[@TheErraticTheory]

If you plan to keep long term, new is better warranty, less maintenance. I bought a new 2018 Ram Pro Master hight top van with 25 miles on it. In Jan 2020. So it was marked down about 9,000. Also the used market was crap, the best deal I found was a similar van with dings and dents and 60,000 miles for about $5,000 less than I what I did spend. Also the only reason I financed it was to prevent credit card debt while turning it into a home on wheels. Which I will be using for a home as soon as I have it done and will pay off the loan since I did have enough to buy it in cash, but not sure if I had enough for the conversion. So the loan at 3% vs credit card at 10%.

[@h7opolo]

12:07 hilarious micro-pause betwixt syllables in the word "assets". 🤣😂

[@MiguelRPD]

My father bought a brand new 2021 Toyota Tacoma. My dad is 54 and is a lifelong mechanic and welder. He drove nothing but used all his life (Because he was able to fix them up) but my father is older now and just wants to work until retirement and wants something useful and comfortable. I think this would be an exception where a new car/truck is appropriate. My dad deserves it!

[@stephennichol3620]

Ill be buying a new car when I can pay for it with my dividend payments.

[@JonathanJorge.]

Amen

[@moyeedulhasan5870]

Or better if you can pay it with partial dividend payment!

[@wcx22]

I bought a new truck last year. With the dealers incentives the price was around what a older used truck would have been. It didn't make much sense to me since there was clearly 5k in accessories/add-ons. Turns out they sold me the wrong truck and to save face they honored the deal. I'm pretty sure the sales guy was fired, but he got me the best deal.

[@bilgisahibisin8938]

...... .......m_i_n_o_r_i_t_y_m_i_n_d_s_e_t_4_@_g_m_a_i_l_.c_o_m_✔️🇱🇷🇱🇷✔️

[@paystyles5429]

Do u have a heated steering wheel? Reply BELOW!!!

[@LifeofKairo]

It makes sense to buy cars if you’re the Stradman and monetising everything with YT videos 😆

[@usernameluis305]

You mean mrbeast?

[@LifeofKairo]

@@usernameluis305 haha him too!

[@27sudarsan]

Useful, but lot of time wasted before going to your point at the 13th minute which would have made this video into a 2 minute listen and saved so much time for all of us. Thanks for your help and appreciate your time.

[@jwb6583]

Also make sure you watch Scotty Kilmer's channel, then you will know which cars are (endless) money pits.

[@bilgisahibisin791]

.... .......m_i_n_o_r_i_t_y_m_i_n_d_s_e_t_4_@_g_m_a_i_l_.c_o_m_✔️🇱🇷🇱🇷✔️

[@Evil12monks]

They are all endless money pits. I find funny there's always a scotty comment on every car video I've watched.

[@jwb6583]

@@Evil12monks ok Michael, nowadays all cars are money pits indeed, because of working from home and forbidden traveling. Scotty is always telling the truth about cars and his KZbin channel is huge and well known world wide.

[@arturotorres6437]

Scotty Kilmer for 50 years of mechanic knowledge and ChrisFix for the DIY mechanics on how to learn to fix the damn endless money pits that (most but not all) are!

[@thetommantom]

I bought a 3.5 year old Tacoma 50k miles depreciated 45% in price and still had 4.5 year 50k mile warranty and expected to last 300,000 miles easy

[@enriquegentry5629]

i have a 2012 camry..no payments. im gonah drive it till either it dies or i die since its a toyota it will most likely outlive me

[@reasonablespeculation3893]

Look at cost per mile... Considered ALL costs, including opportunity cost. Always have a competent mechanic check any used car... It's Insurance, and well worth the price.

[@bilgisahibisin8938]

...... .......m_i_n_o_r_i_t_y_m_i_n_d_s_e_t_4_@_g_m_a_i_l_.c_o_m_✔️🇱🇷🇱🇷✔️

[@theninethrees8044]

Car Guys watching this be like: Ehh, you only live once YOLO

[@Usuallyhandsome23]

I’m 78 and I have 2mil saved and never owned a new car! I can’t wait to leave all this money to my grandkids

[@arturotorres6437]

Wall Street Bets be like YOLO, $GME HOLD!!!

[@jrneymar474]

@@Usuallyhandsome23 teach them how they can do same thing like you,

[@RockDavid]

@@Usuallyhandsome23 This is good, Even Bill Gates was the same for his first 30 some years, Richest man in the world driving used cars and wearing hoodies

[@BigDeejaypro]

@@Usuallyhandsome23 lmao what? so u worked your whole life for your grandkids to blow your money?

[@LyonzDen]

I get it, but my used car experiences ended up costing me WAY more money in the longrun due to having issues and many recalls that I was never told about. Investing a new car is also investing in some peace of mind. Yes a bit more money, but better running, no issues, and no problems that came with the used one.

[@hip2dadip]

This is a certified Master Class! Where in the hell were you when I was 21 years old!?

[@caramurray2197]

Totally agree 100%. However, I do drive a new car after driving my 15 year old Honda into the ground after 200k miles. It was a conscious decision but I got the basic model and paid cash.

[@kathaiti]

If it takes one to two hours to get to work, then you might want a brand new car. Nothing is more annoying than having a car breakdown on you.

[@derf_the_mule1405]

You missed an important point. New may be all that is available. I bought a new minivan because that was what was available. There were no 2-5 year old depreciated minivans available. I had to get rid of the older cheaper money pit minivan because it was costing too much to repair. That was after spending way too much for it (because that was all that was available), and spending way too much to keep it running. Also, I was running out of time to keep up with the maintenance and repairs. I would have preferred a 2-5 year old minivan, but...... none were available.

[@errolm8313]

I actually bought my 2019 avalon after it was used.... Saved me a killing

[@synewparadigm]

Best investment. It will last forever.

[@errolm8313]

@@synewparadigm Looking forward to it! It's my first Toyota and given the reputation I was willing to buy a newer vehicle with the hopes of getting years of use out of it

[@raphaelappolis1949]

Jaspreet bro thanks for the awesome teachings! The car must be bought with your interest income, dividends income, recurring passive income.

[@rell660]

It's funny you upload this when I'm currently thinking about buying a car from Enterprise Car Sales. The car I want is 1-2 years old and 25-35% off.

[@StephenSatire]

As someone who sold them. Do not buy a car from Enterprise, they are previous rentals that get beat up by the renters. You’re better off trying to find a certified pre-owned in whatever make/model you’re looking at. It might be a little more, but the warranty alone will save you.

[@antoniotula262]

I just did that 3 months ago, 2019 car with 30k mi was $20k. Same car brand new $37k

[@mrcead]

Not from a rental company, those cars are driven hard and maintained as cheaply as possible ie, with parts from other equally beat up rentals, I used to service rental cars at an airport

[@dwill9256]

My enterprise car has been working fine. A beater is a beater. Two year old car is perfectly fine with 36k miles. How bad could they beat it? Great for work

[@15KHPCLUB]

Yeah I agree, there's a reason why they're that cheap. They're the base model, driven a lot by countless renters, they've likely been in collisions and the damage goes unreported for the most part. They're cheaply maintained and the work usually isn't done right. It makes more sense to get something off lease still under factory warranty.

[@cliffynjovelyn893]

I buy higher mileage cars these days, but common vehicles with readily available cheap spare parts. When I was young I bought lots of tools and books and taught myself how to fix cars, I never go to mechanics unless it is a massive job like engine or gearbox replacement. I can't even count how much money I have saved over the last 25 years doing this. I do have a fun car though in my garage for weekends so it balances out, so I do enjoy my luxury but within reason.

[@mohammedosman88]

I want to change my number plates on my 6k Civic to “NO2BANK” But wait! That number plate is not going to make me money!😎

[@arturotorres6437]

how will we all know that the monies isn't going to the bank

[@Brandon-xp1ob]

Why couldn't I have this channel years ago? I just returned my lease and will NOT be getting another one. I knew before seeing the video but this just further reinforces that. I did feel like personally we were able to justify a lease because my wife and I were always able to share one car no problem, plus we were happy having peace of mind it (most likely) won't break down. But the next car we will buy second hand/pre owned that's 3-6 years old w/ low miles. I think 7 yrs. is the sweet spot as far as depreciation but either way still waaayyy better than buying brand new.

[@FinancialShinanigan]

Big takeaway from this video is don't fly Spirit

[@humanresources8404]

Im a car enthusiast and wanted a specific car, I bought my manual 2020 370z in September 2020. 370z has been my dream car since 2011. I've considered buying used, but I have no intention of ever selling it, save for some extreme financial scenario like the economy crashing and me losing my job and being unable to afford it. So I figured I'd rather have mine new from the factory and put my own miles on it. After the first year, I had put nearly 17k miles on it, so definitely getting my miles worth on it lol currently closing in on 20k. I chose the $30k base model over the $47k Nismo version because I figure if I'm keeping it until the wheels fall off, I might as well modify it how I want to modify it. So far, I love it more now than I did when I bought it. I haven't taken it to the track yet, but I do go on cruises with other car enthusiasts as well as cars and coffee events. My other dream car is an R35 GTR but most likely would buy that one used due the high price of a new one 😅 I think my car buying scenario isn't how the majority deals with cars though. Most people buy a 911 because it's "nice" and for the clout. I would buy a 911 to drive through the canyons and take to the track. So for me, if you're someone who's trying to drive a specific car with no intention of selling it, buying new might be the right move. Yeah there is a higher upfront cost, but it pays off in 10 years when you have the car paid off. I drive for fun, and I'm willing to eat the upfront cost of my Z

[@tomdrummy4984]

When you buy a reliable car CASH , and the depreciation has zero affect on you financially.

[@jcherestal]

Unless its less than 5k

[@ryugurena3327]

Just get something about 5 years old because the most value lost on the car happens when its super new. And at 5 years old, its still good to drive for years

[@4dscdriver]

I paid $400 for my beater 3 yrs. ago, and I'm still driving it daily. Car has 300k on it. Still runs fine.

[@mysterymachineone]

Exactly, buying a car with warranty and " maybe " work a job that requires driving * Uber to gain income.

[@ryugurena3327]

@@mysterymachineone Why drive as an Uber to make extra income when you could just buy a bunch of weed stocks?

[@Steven-wq8tx]

It’s honestly one of the best times ever to buy a 2 year old car right now. Most cars from 2018 to now have amazing technology like blind spot detectors, heated steering wheel, heated seats, touch screen dash for Apple car play, reverse camera. Everything prior to 2018 you had to buy Luxury brands to get these features but you can find a 2018 Hyundai Elantra for cheap and the car is future proof.

[@jameshoots8302]

The best new car is one that has been on the lot for almost a year.

[@gnhun101]

That's what I bought

[@MrFearless16]

Not the case with 4 runners and Tacoma’s. Some used are worth almost as much as a brand new one. Sometimes more. I’m not talking about those that been modded either.

[@kg5radio716]

Landcruisers also tend to retain value pretty well too.

[@JoeyandFranci]

Just bought a car last week. scared to watch this.

[@747-pilot]

Nothing wrong with that, as long as you bought something that is super reliable (hopefully it has Toyota or Lexus written all over it), and you DRIVE THE WHEELS OFF IT. That is take REALLY good care of it, maintain it properly and drive it for TWENTY YEARS! While the advice in this video is generally good, there are multiple ways to achieve the same goal! And even if it is not a Toyota product (as long as it is not a really lousy brand), you can still get a reasonably long lifespan from it, just by being very proactive with maintenance, "babying" it, and generally being really gentle when driving it! Unfortunately, most entitled nutjobs in western countries like the US, Canada have no value for money and trash these things by revving the daylights out of it, braking harshly, taking turns at a million miles per hour, not regularly washing etc. etc. And in 4 or 5 years they are totally trashed! 🙄

[@nunyabisnass1141]

@@747-pilot honda is good too. Ford, chevy, chrystler, or dodge are money pits even new. You cant go off road with the new jeeps, the new fords eat starters and alternators, the new chevys need a circuit diagram and a computer reset just to change the battery and and jump starting them may burn out the gauge cluster. Nothing amwricam made is consumer friendly. In fact they are down right hostile and entitled.

[@bestthingsinceslicedrice]

If you could afford it w.o being broke why not?

[@mcyg123]

Jeep Wrangler are somewhat of an exception: 6 years ago I bought my Wrangler new. Used ones without a warranty only cost $5,000 less. If you drive it like it was meant to be driven, that Jeep will be beat to hell in those 5 years. So you end up with someone else problems and no warranty when getting a used one. Also, 3 years in I broke my rear axle. I got a $4,500 alxe installed for free under warranty. In my case it was totally worth it.